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6.1.3 exports, imports and the terms of trade

What do the terms of trade measure?

A

The value of exports minus the value of imports, expressed as an index.

B

The average price of exports relative to the average price of imports, expressed as an index.

C

The average price of imports relative to the average price of exports, expressed as an index.

D

The total volume of exports relative to the total volume of imports, expressed as an index.

6.1.3 exports, imports and the terms of trade Flashcards

  1. Intl A Level
  2. /Economics
  3. /6.1.3 exports, imports and the terms of trade

20 flashcards on CIE Intl A Level Economics 6.1.3 exports, imports and the terms of trade: the key terms and definitions you need to recall.